Members of The Progressive Lecturers Network, comprising lecturers from the seven tertiary intuitions in Rivers have thrown their weight behind the declaration of a state of emergency in the state, describing it as a timely and necessary step that averted total breakdown of law and order.

In a communiqué read by their President, Wiri ThankGod, after an emergency congress in Port Harcourt, the academic group commended the President for what they termed a “decisive intervention” that restored peace in a state that was “almost at a point of explosion.”

“We thank the President for the restoration of peace in Rivers State through the declaration of a state of emergency, as the state was almost at a point of explosion if not for the timely intervention of Mr. President.”

The group also expressed confidence in the leadership of the Sole Administrator of the state, Retired Vice Admiral Ibok-Ete Ibas.

It hailed his neutrality, courage, and early signs of commitment to good governance.

“We congratulate the Sole Administrator of Rivers State, Vice Admiral Ibok-Ete Ekwe Ibas (Retrd) on his appointment and courage and neutrality demonstrated so far,” the communiqué read.

They express their commitment to peace and development and announced plans to launch a state-wide awareness campaign to sensitize the public on the importance of supporting the federal government’s efforts in Rivers State.

They urged other stakeholders to align with the Renewed Hope Agenda for the betterment of the state.

“As a network of academics, we believe in and stand for respect for the rule of law. We will continue to open our doors for consultation and inclusiveness in governance,” the group stated.

The Progressive Lecturers Network also commended President Tinubu for appointing Rivers indigenes into positions of trust, particularly, former Governor Nyesom Wike and Senator Magnus Abe in key roles.

They further lauded the administration for its attention to major infrastructural and educational projects in the state, including the rehabilitation of the Eleme section of the East-West Road and the approval for the establishment of the Federal University of Environment and Technology in Ogoni.

In addition to their support for the state of emergency, the lecturers extended gratitude to President Tinubu for the recent release of N50 billion for lecturers’ allowances, describing the move as a significant boost to morale in the education sector.

They say the gesture has rekindled trust in the federal government among academics nationwide.

A federal high court in Abuja has granted permission to the Economic and Financial Crimes Commission (EFCC) to arrest and detain six Crypto Bridge Exchange (CBEX) promoters over allegations of investment fraud to the tune of over one billion dollars.

Emeka Nwite, the presiding judge, gave the order following an ex parte application moved by Fadila Yusuf, counsel to the EFCC.

In the application by the EFCC, the six suspects are Adefowora Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Avwerosuo Otorudo and Chukwuebuka Ehirim.

The commission sought an order of the court for a warrant of arrest of the defendants.

They also prayed the court for “an order remanding the defendants in the custody of the complainant/applicant pending the conclusion of investigation of the alleged offences and possible prosecution”.

Yusuf said that the defendants are at large and a warrant of arrest is required to arrest the defendants for proper investigation and prosecution of this case.

In the affidavit in support of the motion, the EFCC said preliminary investigation into the intel revealed that the defendants “using their company ST Technologies International Limited, promoted another company Crypto Bridge Exchange (CBEX) by making adverts and lured unsuspecting members of the public to invest crypto cryptocurrencies on the CBEX investment platform”.

The EFCC said the defendants promised an unrealistic return on investment of up to 100 percent.

“The victims were made to convert their digital assets into a stablecoin of USDT for onward deposit into the suspects’ crypto wallet,” Yusuf said.

“The victims were initially given full access to the platform to monitor their investment.

“Following the deposits valued at over $1 billion by the victims, the CBEX investment platform became inaccessible to them, and they could no longer withdraw from the investment made.

“The victims later discovered that the said scheme is a scam.

“During the course of investigation, it was discovered that the said ST Technologies International Limited, though registered with the Corporate Affairs Commission (CAC), it was not registered with the Securities and Exchange Commission (SEC) for investment purposes.

“It was also discovered during the investigation that the defendants had moved out of their last known address in Lagos and Ogun states.”

The anti-graft agency said obtaining a warrant of arrest was necessary in order to place the defendants on a watch list, enabling authorities to trace and apprehend the suspects to face the charges brought against them.

Nwite granted the request for a warrant of arrest and remand, adding that the order was necessary to enable the commission to apprehend the defendants and conclude its investigation.

“I have listened to the submission of the learned counsel for the applicant,” Nwite said.

“I have also gone through the affidavit evidence with exhibits thereto, along with the written address.

“I am of the view and I so hold that the application is meritorious.

“Consequently, the application is granted as prayed.”